Office of Budget and Planning

Glossary

Transactions

Expenditures

The recognition of the expending of resources of any fund group toward the objectives of that group.

Transfers

Amounts moved between fund groups to be used for the objectives of the recipient fund group.

Mandatory transfers - debt service, loan funds, etc.

Nonmandatory transfers - at the discretion of the governing board

When to Use What Form

Budget Adjustment

Taking some of your spending authorization and giving it to someone else. Result- you have less to spend and the recipient has more. Also, within your own budget, moving funds available dollars between line items to allow for spending that is different from your original plan.

When to use a Budget Adjustment form:

Reallocating spending authorization within your own budget.

Sharing of an expense between other departments for an event that has NOT YET OCCURED.

Note: This will NOT show up as an expense in the current year, it will only reduce the original dollars you are allowed (budgeted) to spend. If this is a material amount that will prohibit you from properly planning for your budget next year, use the Internal Transfer of Funds Request form.

Internal Transfer of Funds Request

The Internal Transfer of Funds Form is used in cases where funding from an unrestricted operating account (accounts starting with 11) is moved to another type of unrestricted account (accounts starting with 12 or 13). For transfers between unrestricted operating accounts (both accounts starting with 11), refer to the Budget Adjustment section above.

Expenditure Transfer

When an expenditure paid to a 3rd party (not Loyola) has been posted to a wrong account, an Expenditure Transfer removes that expenditure from the incorrect account and places it in the correct one.